SAO PAULO, May 29 (Reuters) - U.S. commodities trader

Bunge and a subsidiary of Japan's Zen-Noh Group have

agreed to buy part of a terminal at Latin America's largest port

from Rumo ( RUMOF ) for 600 million reais ($115.3 million), according to a

securities filing on Wednesday.

Brazilian rail operator Rumo ( RUMOF ) said in the filing

that it had tied up the binding agreement to sell its 50% stake

in the XXXIX terminal, at the sprawling Santos port, which is

known for shipping out coffee and other commodities.

"With this deal, the companies expect to obtain larger

logistical flexibility in a key export corridor in Brazil,"

Bunge and Zen-Noh said in a statement.

The firms added the deal would be made through a

joint-venture with Zen-Noh Grain Corp, the U.S. subsidiary of

Zen-Noh Group, with each of the partners holding an equal stake.

Brazilian food and fuel processor Caramuru Alimentos, one of

the country's largest grain crushers, holds the remaining 50% of

the terminal, according to Bunge and Zen-Noh.

Rumo ( RUMOF ) said the sale reinforces the firm's strategy to

improve its cash position and concentrate efforts on projects to

boost capacity and make its railways more competitive.

($1 = 5.2018 reais)